What Does Renunciation Mean In Estate Planning?

What Does Renunciation Mean In Estate Planning?

The formal giving up of a right to serve in a position – personal representative/trustee/executor etc.  This is generally done in writing and filed with the probate office/court or interested parties of a trust.  A renunciation does not generally have the power to name a successor, it is just giving up the right to serve.

Example Of Renunciation In Regards To Estate Planning

I was named as the trustee of my brother’s trust, but I’m currently living abroad and don’t have the time to serve.  My attorney is helping me file a renunciation so the person next in line can be appointed.

Kelley Scrocca, LLM
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